Yes you should speak to your accountant.
On the scenario you suggest you start with $10 you invest the $10 twice each time making $5 profit you now have $20 so you will be taxed on the total profit of $10.
The rate of tax will be determined by your marginal tax rate and whether you are entitled to claim the 50 % capital gains tax concession because during the time between buying and selling a period of 12 months or more has elapsed.
In speaking to your accountant you may wish to discuss whether there may be sense in having a a non earning dependent spouse buying and selling such shares as they would potentially have available the full tax free concession which was in the order of $22,000 per annum.
If you intend to seriously involve yourself in share trading the speaking to your accountant before you start is a must.
My opinion only DYOR.
Chart, page-601
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Last
20.5¢ |
Change
0.005(2.50%) |
Mkt cap ! $380.4M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.5¢ | 19.3¢ | $1.524M | 7.685M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 721709 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 776034 | 19 |
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| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| BRN (ASX) Chart |